Figures from McKinsey make talk of India's eclipse by China seem grossly exaggerated. Educated, skilled in English and willing to relocate to be near the multinationals, India's graduates comprise the developing world's largest offshore talent pool. China may have its education programmes and government initiatives to win foreign investment, but the numbers suggest India is the place to be. In China, those with the right experience and English skills are at a premium - and 10%-20% more expensive than in India. And only half of its potential talent is accessible to multinationals. The Chinese government is taking big steps to catch up in language skills (see feature, p56), but massive investments in India by Microsoft and Intel show the allure of its cut-price talent pool. There is, however, huge room for improvement. Of the 33 million potential young professionals in emerging markets, only 4.6 million are suitable to work for foreign companies. Tackling language and location problems would create a different picture.
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